Real Estate Startup Staff Cuts Amid Market Slowdown

St. Louis real estate startup cuts staff as housing market slows

bizjournals bizjournals | 1 year ago

The company's CEO said the decision comes as it navigates both a slowing housing market and potential economic recession.

Austin real estate startup Homeward lays off 20% of staff as housing market cools

bizjournals bizjournals | 1 year ago

A cooling housing market is trickling down to startups involved with residential real estate, leading Austin-based Homeward Inc. to announce it is laying off 20% of its team. "Despite having a strong financial start to the year, we are currently staffed for more growth than we’re now forecasting," Homeward founder and CEO Tim Heyl wrote in an Aug. 10 blog post. Homeward offers homebuyers financing to make all-cash offers, which became common in hot housing markets like Austin during the pan...

St. Louis-area real estate tech startup Transactly expands with another acquisition

bizjournals bizjournals | 1 year ago

St. Charles-based real estate technology startup Transactly has expanded with an acquisition, the latest in a string of M&A deals it has made to expand its team and the scope of its business.

St. Louis Real Estate Market: Prices | Trends | Forecasts 2022

noradarealestate noradarealestate | 1 year ago

The St. Louis real estate market is hot. Homes are selling fast because inventory is low, creating a banner selling season for homeowners looking to move. While St. Louis real estate market remains more affordable than in many other metro areas, low inventory and strong demand are putting upward pressure on prices. However, the number of new listings in the St Louis market is outpacing the number of closed sales, a reversal of the trend we saw until recently. As the report below shows, there wer...

Return of buyer contingencies signals slowing St. Louis real estate market

bizjournals bizjournals | 1 year ago

The St. Louis real estate market is showing signs of slowing, and real estate agents have noticed the return of buyer contingencies that had been abandoned in two years of record-setting activity during the pandemic.

Real estate firms Compass and Redfin announce layoffs as housing market slows

Broadcast Media Production and... Broadcast Media Prod... | 1 year ago

Real estate firms Redfin and Compass are laying off workers, as mortgage rates rise sharply and home sales drop. In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut. Shares of both companies fell Tuesday. Redfin's stock touched a new 52-week low. Rising rates and overheated home prices, which are now up over 20% from a year ago according to various surveys, have crushed affordability. Home sales have been dropping f...